June 25, 1956: Allen to President Sproul on Funding
Note: Although this letter has no sender's name, it came from the Chancellor Allen files in the Archives.
The problem of funding is a difficult one. The need is to find $325,000 to loan to IBM because its payment for the building will be made in 10 equal installments. In this letter, Allen proposes two sources of University funds, loans from (1) endowment, retirement or other investments funds in the University; (2) funds already approved for residence hall construction to be repaid with interest.
The complete letter is available here.